Menu for the “Client Services” section.

Section: Client Services

Client Services

FAQs

Account Service

  • How can I change my address?

    Choose one of four ways to make an address change:

    1. Online Change my address Form.
    2. Call Customer Service at 1-800-523-0650.
    3. If you receive a bill, space is provided on the back of the bill to indicate address changes.
    4. You can send a letter to our Customer Service Department at P.O. Box 178, Philadelphia, PA, 19105-0178. Be sure to include the following information in your letter:

      Name
      Day and evening phone number
      Identify whose address is to be changed (i.e. insured, annuitant, owner, payer, beneficiary).
      Current Address
      New address
      Policy/contract number
  • How can I change my beneficiary?

    A beneficiary form is required to change a beneficiary. You can get the form one of two ways:

    1. Automated Phone System
      • Dial 1-800-523-0650.
      • Select the option for "changes to a current contract", then select "beneficiary change".
    2. On-line Change of Beneficiary Form
      • Go to Change of Beneficiary form.
      • A Change of Beneficiary Form will be sent via U.S. mail.
  • How can I get a Certificate of Insurance?

    You can obtain a Certificate of Insurance by one of two ways:

    1. Online Certificate of Insurance form.
    2. Call Customer Service, toll-free number, 1-800-523-0650.
  • How do I prepare for Fund Transfers and Future Payment Allocation changes?

    Download the Future Allocation Change Worksheet, a printable worksheet that will assist you in preparing for your Fund Transfers and Future Payment Allocation changes.

  • How do I use your Automated Phone Service to get my policy information?

    Download the Automated Phone Service Guide as a simple reference for instructions on how to use the automated phone service:

Beneficiary Account

  • Are my funds safe?

    Absolutely. With the Penn Mutual Beneficiary Account, your money is fully guaranteed by the Penn Mutual Life Insurance Company.

  • Are there any fees?

    There is no charge to maintain your account, no matter how long you choose to keep the account open. There are no monthly fees, check writing fees, redemption fees and no penalties for withdrawal. There may be a charge for certain special services such as stop payments and extra statements. These special circumstances are described in your Certificate of Confirmation which will be sent to you when this account is established.

  • How is interest credited?

    The funds in your account are already earning a Money Market rate of interest. The variable rate of interest that is currently being credited to your account is shown in the Certificate of Confirmation.  This rate will be set weekly. Your funds earn interest from the settlement date shown on your certificate to the date of withdrawal.

    Interest on your account is compounded daily and posted to your account monthly. Daily compounding helps your earnings grow more quickly.

  • How may I use this account?

    Your Penn Mutual Beneficiary Account is similar to any checking account in that you may write checks to either yourself or to others.

    Because you are an account holder, your checkbook gives you immediate access to, and control over, your Penn Mutual Beneficiary Account. You may write a check at any time for any amount over $250 up to the full amount of your account balance. If you want to liquidate your entire proceeds, simply write a check for the full balance noted on your opening statement. Any balance of $1,000 or more will keep your account open. If the balance falls below $1,000, the account will be closed automatically.

  • May I make deposits to the account?

    No. This is not a bank account and therefore no other funds may be deposited into your account except for proceeds and benefits of another policy issued by Penn Mutual.

Death Claims

  • How do I report a death claim?

    There are two ways to make a death claim:

    1. Complete our Submit a death claim form. After we receive the information we will send you the appropriate paperwork.
    2. Call our toll free number, 1-800-523-0650. Selection option 4, ("all other requests"), then select 1 "to file a claim". Our representatives will ask you some general questions and will send you the appropriate paperwork.
  • What information is required with a death claim?

    We require three pieces of information with the death claim:

    1. Certified Death Certificate (colored or raised seal)
    2. Claimant statement, which we will provide
    3. Any additional requirements that we state in our letter.

    Please note: we DO NOT require the policy to be returned to us.

Dividends

  • Can you tell me in advance what my dividends will be?

    No, dividends are declared on the policy anniversary and cannot be quoted until the day of the anniversary.

  • If my dividend option is "reduce premium," and my dividend award is not enough to cover my premium, will Penn Mutual automatically surrender what is owed from other value within the policy?

    As a courtesy, Penn Mutual will not surrender dividend value without your permission.

    If you call 1-800-523-0650, our service department will verify that your policy has enough dividend value to surrender to pay your premium. Penn Mutual will then process the transaction with your verbal permission. Select the option for "changes to a current contract", then select the "dividends" option.

  • When are dividends awarded?

    Dividends are awarded on the policy anniversary (the day and month you purchased your policy from us.) Cash dividends are also mailed to the policyowner on the anniversary.

Payment & Billing

  • Are there procedures for sending in checks for annuity subsequent payments?

    Please include your contract number on your check.

    Remit your payment to:

    Annuity Payments*
    The Penn Mutual Life Ins. Co.
    Payment Processing Center
    P. O. Box 9773
    Providence, RI 02940-9773

    If sending in a list bill, please provide us with contract numbers of the participants and “net” amounts—we do not subtract amounts from other contracts.

    If you are sending in a check for a Traditional IRA, SEP-IRA or SIMPLE-IRA and you are requesting the contribution be posted for the prior tax year, please indicate this on your check or list bill.

    • Traditional IRA contributions may be made for the prior tax year, up to the due date of your tax return (not including extensions).
    • SEP-IRA contributions may be made for the prior tax year, up to the due date of the employer's tax return (including extensions).
    • SIMPLE-IRA contributions may be made for the prior tax year, up to the due date of the employer's tax return (including extensions).

    Form 5498

    For Traditional IRA's the Form 5498 will show contributions up until the tax filing date of April 15th (or the postmark on the envelope showing April 15th).

    For SEPS and SIMPLE Plans, the Internal Revenue Service requires Penn Mutual to use  year-end 12/31 of the prior tax year as the extract date. They can still deposit money after that, but it will not show on their 5498.
    SEP employee contributions will show in a separate box under IRA contributions. SEP employer contributions will show under the box for SEP contributions.

    The 5498 Form is a “snapshot” view for a point in time which is required by the IRS and informational only.

    It is unnecessary to use this form for tax filing in the way that you file your taxes with a 1099-R.

    For Contributions to SEP or SIMPLE Plans, indicate if the contribution is from the Employee or the Employer for proper reporting.

    Sending in 403(B) Loan Payments

    Send your check with the coupons that are mailed to you.

    Adhere to the quarterly schedule of payments, which was included in the initial loan packet that was send to you by Penn Mutual.

    It is imperative that you adhere to the dates on the coupon when sending in your check for proper crediting to your account. If you wish to send in any additional monies, please add that amount to your regular payment and send it in on the due date.
    Do not send us checks in a lesser amount than your payment that is due or send us checks every month as they will have to be returned to you.

    Pennant Select or Commander Subsequent Payments

    For IRA's, the subsequent minimums are reduced to $1,000.00 for the following account balances:

    $25,000.00 for Pennant Select
    $1,000,000.00 for Commander

    Non-Qualified subsequent minimum is $1,000.00 for Pennant Select.
    Commander subsequent minimums remain at $25,000.00.

    Pac Payments (Pre-authorized Check)

    Penn Mutual Diversifier II contracts only
    — no PIA or Pennant Select or Commander contracts

    *Applicable to all subsequent annuity (FPRA & Div II) and Div I payments

  • Do you accept credit card payments?

    We do not accept credit card payments.

  • How can I change my billing frequency?

    How can I change my billing frequency?

    1. This transaction can be completed by using our Automated Phone Service.
      Dial 1-800-523-0650.
    2. Select the option for "changes to a current contract", then select the option "to change your billing frequency".
  • How can I check to see if my payment has been received?

    Use our Automated Phone Service:

    • Dial 1-800-523-0650
    • Select "Payment status"
    • Then select "Payments you have sent to us"

    The system is able to provide the following account information:

    Traditional Policies:

    • Billing frequency
    • Billing premium
    • Last premium payment received
    • Date premium payment was applied
    • Last loan payment received
    • Date of last loan payment
    • Paid to date

    Universal Life & Variable Life Policies:

    • Billing frequency
    • Billing premium
    • Last premium payment received
    • Date premium payment was applied
    • Last loan payment received
    • Date of last loan payment

    Annuity Contract:

    • Date and amount of last purchase payment
  • How can I verify my billing frequency and billing amount?

    Use our Automated Phone Service:

    • Dial 1-800-523-0650
    • Select "Payment status"
    • Then select "Payments you have sent to us"

    The system is able to provide the following account information:

    Traditional Policies:

    • Billing frequency
    • Billing premium
    • Last premium payment received
    • Date premium payment was applied
    • Last loan payment received
    • Date of last loan payment
    • Paid to date

    Universal Life & Variable Life Policies:

    • Billing frequency
    • Billing premium
    • Last premium payment received
    • Date premium payment was applied
    • Last loan payment received
    • Date of last loan payment

    Annuity Contract:

    • Date and amount of last purchase payment
  • How do I obtain my current cash, dividend, loan, and loan payoff values?

    Use our Automated Phone Service:

    • Dial 1-800-523-0650
    • Select "Contract value information"
    • The system will read all values that apply to your contract.
  • How do I request a duplicate statement?

    You can view and print a duplicate statement online on Penn Mutual's Client Service Center, visit Get my last statement.

    Or, if you prefer, call Customer Service at 1-800-523-0650.

    Please note:

    Traditional Policy or Universal Life Policy:
    The annual statement requested will be as of your last anniversary date.

    Variable Universal Life Policy:
    The annual statement requested will be as of your last anniversary date.

    • Quarterly statements are also available at the end of each calendar quarter.
    • If you are requesting an annual statement please specify in the note section of the message, otherwise the most recent quarterly statement will be produced.

    Annuity Contracts:
    Your request for a duplicate statement will produce the last quarterly statement.

    • Your next quarterly statement will include the updated financial activity.
  • What is the mailing address for payments?

    For Life Insurance remittance forms and subsequent payments:
    The Penn Mutual Life Insurance Company
    Payment Processing Center
    P. O Box 7460
    Philadelphia, PA 19101-7460

    Overnight mail for subsequent life insurance payments:

    The Penn Mutual Life Insurance Company
    Payment Processing Center
    ATTN: LB 7460
    312 West Route 38
    Moorestown, NJ 08057

    For Annuity Contract Payments:
    The Penn Mutual Life Insurance Company
    Payment Processing Center
    P. O. Box 9773
    Providence, RI 02940-9773

    Overnight mail for subsequent Annuity payments:
    The Penn Mutual Life Insurance Company
    Payment Processing Center
    4400 Computer Drive
    Westborough, Ma 01561

Tax Information

  • How do I request duplicate tax forms, i.e. 1099, etc.

    Call our toll-free number 1-800-523-0650. Duplicate forms are produced on Mondays only.

  • I have questions concerning tax forms 5498, 1099R, and 1099INT.

    We have frequently asked questions specifically for tax information and descriptions.Tax Forms & Questions.

Penn Mutual Sitemap

Your Financial Life
Life Insurance
Annuities
Client Services
Performance & Rates